Spot BTC technical analysis and today's market forecast
Yesterday, the BTC price fluctuated around 61,100 yuan, showing a stable trend overall. The current K-line chart shows that the BTC price is running near the 20-day moving average, and is expected to continue to fluctuate between 60,000 and 61,500 yuan in the short term. Today, pay attention to the support level of 60,000 yuan. If it falls below, it may further test the support level near 59,000 yuan; while the upper short-term resistance level is 61,500 yuan. If it breaks through, it is expected to hit 62,000 yuan.
Important market information and analysis
Whales reduce their ETH/BTC positions: On-chain monitoring shows that a large investor reduced some of his positions after the ETH/BTC exchange rate fell. This indicates that the market's confidence in ETH has weakened, especially when compared with BTC, ETH's performance is relatively weak. This may lead to further downward pressure on ETH/BTC.
Fed rate hike expectations: Fed Governor Bowman said there are upside risks to inflation and the labor market remains strong, which means the Fed may not cut interest rates in September. Continued high inflation expectations will lead to increased risk aversion in the market, which is good for safe-haven assets such as Bitcoin.
Analysis of other currencies’ growth and contract forecasts
STG (0.3918 yuan): STG has performed steadily recently and is expected to fluctuate in the range of 0.39-0.40 yuan in the short term, with attention paid to the support of 0.39 yuan.
LUNC (0.00008528 yuan): LUNC is in a consolidation state in the short term. Pay attention to the support level of 0.000085. There may be room for a small rebound in the short term.
CTXC (0.1830 yuan): The current price of CTXC is near the key support level of 0.18 yuan. If this support level is maintained, it may usher in a rebound with a target of 0.19 yuan.
Contract strategy suggestion: For BTC contracts, it is recommended to mainly operate in the short term, buy on dips, and pay attention to the support of 60,000 yuan. If the price falls below 60,000 yuan, it is recommended to wait and see and wait for new entry signals.
